{"id":351496,"date":"2021-10-12T03:43:55","date_gmt":"2021-10-12T00:43:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/texas-democratic-party-aims-to-use-nft-sales-for-fundraising-efforts\/"},"modified":"2021-10-12T03:43:55","modified_gmt":"2021-10-12T00:43:55","slug":"texas-democratic-party-aims-to-use-nft-sales-for-fundraising-efforts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/texas-democratic-party-aims-to-use-nft-sales-for-fundraising-efforts\/","title":{"rendered":"# Texas Democratic Party aims to use NFT sales for fundraising efforts"},"content":{"rendered":"

“# Texas Democratic Party aims to use NFT sales for fundraising efforts <\/strong>”
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Front Row, a marketplace geared towards progressive organizations, has said it will be partnering with the Texas Democratic Party to pilot a program aimed at raising money for candidates and causes using nonfungible tokens.<\/p>\n

In an Oct. 11 announcement, Front Row said<\/a> it had already minted digital images of key moments related to the progressive movement, and listed the nonfungible tokens (NFTs) for sale. Some of the featured NFTs include \u201cwanted\u201d posters depicting conservative Texan lawmakers fleeing the state.<\/p>\n

Front Row says that the funds raised through its NFTs will go \u201cdirectly towards political groups and individuals,\u201d but did not specify how it planned for the digital purchases to be compliant with current campaign finance laws. Under U.S. law, candidates for federal offices app<\/a>ear unable to receive more than $5,800 from a single individual for the sale of one or more NFTs. <\/p>\n

\u201cNFTs will become a powerful addition to any political fundraising effort, and the launch of our marketplace will give Democrats across the country a fundraising advantage that its counterparts do not have,\u201d said Front Row co-founder Parker Butterworth, likely referring to Republicans. \u201cWe can\u2019t wait to continue turning powerful, exclusive, behind-the-scenes moments into digital assets that help fuel progressive objectives.\u201d<\/p>\n

Keeping in line with progressive values, Front Row said it also\u00a0blockchain platform will strive to be carbon-negative\u00a0by donating a portion of the NFT proceeds to \u201ccarbon capture and reduction\u201d causes. Though the platform is starting at the state level in Texas, it hinted at expanding to national candidates and causes. <\/p>\n

Related: <\/em><\/strong>Prioritizing humanity ahead of profits through NFTs<\/em><\/strong><\/p>\n

Though many local, states, and federal candidates for office in the United States have announced they would be accepting donations in cryptocurrency \u2014 likely in a bid to engage younger, tech-savvy voters \u2014 NFTs have largely been absent from talks in Congress.\u00a0<\/p>\n

Cointelegraph reported in August that the current 117th Congress has put forward 18 bills concerning digital assets and blockchain technology<\/a> in 2021.<\/p>\n